Which is worse, a gangster or a bankster, mob kingpin Al Capone or banking kingpin Paul Warburg? The Sinaloa Drug Cartel or the U.S. Federal Reserve System? The Italian Mafia or Goldman Sachs? These are not tongue-in-cheek queries; they are real, serious questions that go directly to the corruption at the heart of our financial system. And they are brought to mind by the recently concluded gathering of global banksters in Jackson Hole, Wyoming, at an annual confabulation convened by the Federal Reserve (the Fed).
As we have noted in our past reports on the Jackson Hole events of the Fed, (see, for instance, Jackson Hole Conclave: Central Bankers Plan Global Theft, Massive Pain) these yearly jamborees bring together the capi de tutti capi (the “bosses of all the bosses”) of the Money Mafia to decide how much wealth they will milk from the world’s middle classes and the methods of extraction they plan to use. The “usual suspects” at these high-powered palavers include the top representatives of “the great and the good” from world finance: the Federal Reserve, the European Central Bank (ECB), the Bank for International Settlements (BIS), the World Bank (WB), the International Monetary Fund (IMF), the Group of Thirty economic advisers, and the top officials of the world’s leading national central banks. A host of economic signals and clues indicate these banksters are getting ready to pull another manufactured financial and monetary “crisis” that will dwarf the bailout calamity of 2008-2009.
Are critics (this writer included) of the banking elite overstretching in referring to these august beings as “banksters”? Is it hyperbolic and defamatory to equate them with gangsters? Far from it. Al Capone (1899-1947) used guns, bombs, violence, and brutal thugs to enforce his will on the unwilling and establish his turf. His modern-day criminal equivalents continue the tradition: they rob, extort, beat, and/or murder thousands, or tens of thousands, of victims. That’s what gangsters do; they’re not too concerned with subtlety.
Wall Street banker Paul Warburg (1868-1932), the “father” of the Federal Reserve, established our fractional reserve central banking system that, in his day, robbed millions of Americans by stealth. His modern-day criminal equivalents rob billions of victims globally. But they are all about subtlety. So, when they deem necessary, rather than get their own hands (and respectable images) dirty, banksters utilize the uniformed agents of governments to rob, extort, arrest, jail, defame, beat, and/or murder their victims. That’s what banksters do.
A note of distinction: There is no such thing as a “legitimate” gangster, i.e., a gangster who provides a moral, useful, constructive service to society. On the other hand, obviously, not all bankers are banksters; an honest banker provides a necessary, legitimate, moral, useful, constructive service to society.
As usual, the Fed’s “annual economic policy symposium” in Jackson Hole was closely monitored this year by financial analysts, but otherwise received scant attention from the major media, which prefers to keep the general public focused on the latest Kardashian sexploits and subplots. During the three-day event (August 25-27) global markets and economic experts watched and waited in breathless anticipation, grasping at any pronouncement for a word or syllable that might indicate what these oracles have planned for the world economy. Among the big questions for everybody (whether inside or outside the conference) are: Will the Fed and other central banks raise interest rates? Or, will they hold rates steady — or even lower them? Will they continue “quantitative easing” targets? Will they introduce new “policy tools”?
However, the BIG questions that should be asked are: Why should any small clique of fallible, corruptible human beings be entrusted with such corruptive power? Why is the economic well-being (or demise) of the entire world resting in the hands of these bankster elites, who have been shown repeatedly to be enriching themselves and their confederates by plundering the investments and savings of billions of people worldwide (see here, here,and here)? Why are they still allowed to operate in secrecy and to evade the audits that are expected of every business and government agency?
Following the 2008-2009 financial crisis, public outrage over the Too Big To Fail banking and corporate bailouts was finally sufficient to take Rep. Ron Paul’s Audit the Fed bill to victory in the House. It was watered down in the Senate, but we did get a partial audit that showed the Fed had funneled trillions of dollars to favored banks.
We still have not had a full audit and congressional efforts to get one have been stopped by Republican and Democratic Party leadership.
On a positive note, the 2016 GOP Platform proclaims: “The Republican Party will advance legislation that brings transparency and accountability to the Federal Reserve…. The first step is through an annual audit of the Federal Reserve’s activities….”
The 2016 Democratic Party Platform, on the other hand, states: “We will protect and defend the Federal Reserve’s independence … against threats from new legislation … and we will fight to enhance its independence…”
While the Republican Party is at least paying lip service to forcing an audit on the Fed (thanks only to “insurgent” party activists), the Democrats are opposing an audit, adopting the Fed’s argument that genuine transparency in its operations would endanger its sacrosanct “independence.” Paul Warburg would be flattered. As a leading agent of the Rothschild banksters, Warburg pulled off the biggest bank heist in history, giving his Wall Street banking confreres control of the U.S. monetary system — by deceptively (but successfully) selling the Federal Reserve as a means to control the Wall Street banks!
In his famous 1966 book Tragedy and Hope: A History of the World in Our Time, historian Dr. Carroll Quigley revealed the real aim of the Wall Street crony capitalists in creating the Federal Reserve System. Quigley, a devoted globalist and an elite academic (Georgetown, Harvard, and Princeton universities), wrote: “The powers of financial capitalism had a far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert by secret agreements arrived at in frequent private meetings and conferences. The apex of the system was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world’s central banks which were themselves private corporations.”
It must be noted that the “powers of financial capitalism” to which Quigley referred — the big international bankers, i.e., Morgan, Rothschild, Rockefeller, et al — were not promoting free enterprise or free market capitalism (an erroneous and confusing charge that leftwing critics of the Fed often make). To the contrary, in forming the Fed they were promoting a form of collectivism — corporate fascism — to create a cartel, a monopoly. This use of government force to create a monopoly and curtail/destroy competition is the antithesis of free market capitalism. To accomplish this end they engaged in a conspiracy as furtive as any Hollywood rendering of a secret Cosa Nostra gathering of Mafia chiefs. Specifically, the Fed was born in utmost secrecy, in 1910, at the ultra-clandestine meeting of Wall Street banking titans at Jekyll Island, Georgia. The most accessible complete account of that conspiratorial conclave can be found in G. Edward Griffin’s superb book, The Creature from Jekyll Island.
For the better part of the past century, the controlled major media and the kept academics either have simply ignored the criminal origins of the Fed, or have denied that the Jekyll Island meeting ever occurred. However, in 2013, on the 100th anniversary of the passage of the Federal Reserve Act, the Fed not only acknowledged the secret Jekyll Island meeting, but celebrated it.The principal Rothschild agent at that cabal was Paul Warburg, who became not only the public face of the campaign for a central bank, but subsequently became the president of the Fed’s advisory council. He was a founder of the Council on Foreign Relations (CFR) in 1921, and served as a director on this premier “brain trust” for world government until his death. Many of his Wall Street/Jekyll Island cronies likewise joined in founding the CFR. And CFR members have guided the Fed on a steady globalist course ever since.
CFR members listed as attendees1 at the 2016 Jackson Hole conference included:
Janet Yellen, Chair of the Fed’s Board of Governors;
Stanley Fischer, Vice Chairman Board of Governors;
William Dudley, President/CEO, Federal Reserve Bank of New York;
Dennis P. Lockhart, President/CEO, Federal Reserve Bank of Atlanta;
Lael Brainard, Governor, Board of Governors of the Federal Reserve System;
Jerome Powell, Governor, Board of Governors of the Federal Reserve System;
Alberto Musalem, Executive Vice President, Integrated Policy Analysis Group Federal Reserve Bank of New York;
Michelle Smith, Assistant to the Board and Division Director Board of Governors of the Federal Reserve System;
Providing additional intellectual heft for this year’s event were the usual CFR-member Ivy League professors and think tank gurus:
Kristin J. Forbes, Professor, Massachusetts Institute of Technology;
Peter Blair Henry, Dean, Stern School of Business New York University;
R. Glenn Hubbard, Dean, Columbia Business School;
Donald Kohn, Senior Fellow, Brookings Institution;
Adam Posen, President Peterson, Institute for International Economics;
Martin Feldstein, Professor, Harvard University;
Carmen Reinhart, Professor, Harvard University;
Kenneth Rogoff, Professor, Harvard University.
Listed on the Fed program as “Media Attendees” at the Wyoming affair were the following individuals from the CFR-dominated thought cartel:
Binyamin Appelbaum, Correspondent, The New York Times;
Peter Barnes, Senior Washington Correspondent, Fox Business Network;
Sam Fleming, U.S. Economics Editor, Financial Times;
Kathleen Hays, Host and Economics Correspondent, Bloomberg Radio and Television;
Jon Hilsenrath, Chief Economics Correspondent, The Wall Street Journal;
Steve Liesman, Senior Economics Reporter, CNBC;
Steve Matthews, Reporter, Bloomberg News;
Ylan Mui, Reporter, The Washington Post;
Howard Schneider, Journalist, Reuters News;
Harriet Torry, Reporter, Dow Jones Newswire.
As should be expected, after a century of practice, the progeny of the Jekyll Island cabal have become very adept at running these secretive “public show” events. It is important to remember that these conferences operate on several levels at once. At the lowest level there are the “public” on-the-record speeches, attended by select media and guests. Also “public” are the interviews given by attendees to friendly so-called journalists in the CFR-led “mainstream media.” Then there are formal closed-door meetings and informal off-the-record gatherings of the money meisters. We get only managed snippets from their speeches, comments and press releases, many of which are confusing and contradictory — by design. We know the confusion and contradiction are intentional because one of the most expert practitioners of that dark art, former Fed chief Alan Greenspan, publicly boasted of it, proudly referring to it as “purposeful obfuscation.”
What do the banksters have in mind for the coming months? According to many of their public comments, it would seem they intend to hold interest rates to their record lows. However, there were also hints of a push for radical action, including even more massive new government spending programs. Reuters media attendee Howard Schneider wrote that central bankers “also are hunting for ways to jolt the economy out of its doldrums, and a fiscal push is a possible tool.”
According to the Reuters reporter:
In a lunch address by Princeton University economist Christopher Sims, policymakers were told that it may take a massive program, large enough even to shock taxpayers into a different, inflationary view of the future.
“Fiscal expansion can replace ineffective monetary policy at the zero lower bound,” Sims said. “It requires deficits aimed at, and conditioned on, generating inflation. The deficits must be seen as financed by future inflation, not future taxes or spending cuts.”
A real audit of the Federal Reserve is the first step to routing the bankster cabal from power. Insist that your senators and congressman support this effort.